The 42-year-old says that despite healthy sales, along with stellar reviews from her leadership team and management consultants, her new partners wanted her out, resulting in her voluntarily stepping down. User Agreement and Privacy Policy and Cookie Statement and Plus, her experience was a common one among women-led businesses: Women founders face greater barriers funding their businesses. 2023 Cond Nast. And she did with me. She sees the original connection to artistry embodied in modern-day geisha. Click to reveal Experts explain what's going on with this concealer and why it's fueling a backlash against "clean beauty" as a whole. Not having to rely on investor dollars meant Tsai could prioritize research and development (Tatcha has a Tokyo-based R&D center), customer service and incorporating a giving model into her business. I woke him up and told him we should get engaged today. I can be blissfully unaware. But Tsai knows that beauty goes more than skin deep, which is why the brand recently surpassed a milestone of3 million days of school for girls donated through its partnership withRoom to Read. A recent study from Crunchbase found that in 2019, for every $100 invested by venture capital firms, just $3 went to companies founded by women. Vicky Tsai has a net worth of $5 million from founding a beauty care brand. Why did you decide to launch Tatcha? However, even after bouts of barely being able to afford groceries, Tsai says her favorite way to spend her money isn't on things. We spoke with Tsai about the key elements of her work and business, below. Inspired by the beauty of a modern-day Geisha, Vicky Tsai, a Wellesley College graduate with a Harvard MBA, . When you are younger its at the surface, but as you get older it deepens and becomes intrinsic as your heart and mind become more beautiful. Were both predicable in each others eyes, but that makes me feel understood, loved and connected. [Sign up for Love Letter and always get the latest in Modern Love, weddings, and relationships in the news by email.]. "I see most of those emails, and I don't answer very many of them anymore, but I see them and I forward them, some of them the ones that catch my curiosity.". I'll take a 50 percent chance of being unhappy versus a 100 percent chance of being unhappy any day of the week. Im not used to taking no for an answer. She made me emotionally vulnerable. As a subscriber, you have 10 gift articles to give each month. The luxury skin care brand with fans in Kim Kardashian and Meghan Markle would go on to make $70 million in sales in 2018, according to Bloomberg, and was acquired by Unilever during the summer of 2019. Tatcha founder Vicky Tsai . I have meditation guides and journals, I work at it; for him, its effortless. Not Anymore, Tatcha, a skincare brand based on Japanese beauty rituals, Inc. 5000 list of fastest-growing private U.S. companies, Unilever purchased Tatcha in 2019 for an estimated $500 million. Hes my better half, but also a better human being. Bloomberg says this latest acquisition is very on-trend within the industry, noting, "The worlds largest cosmetics companies have been acquiring upstart brands in recent years as they search for the next big hit, often picking labels that attract younger, trendier shoppers, citing Estee Lauders acquisition of Becca, Rodin, Glamglow and Too Faced, as well as LOreals purchase of CeraVe and It Cosmetics. If youve ever bought anything by Dove, Simple, St. Ives, Axe, Noxzema, Suave, Tresemm, Ponds, or Vaseline, youve purchased a Unilever product. Exclusive: Dove Body Wash Just Got Its First Makeover in 17 Years. The Kosas Mold Debacle Isn't as Wild as It Sounds. By 4 a.m. Tuesday morning, she was setting up tables and opening shop. China now has 4,100 Starbucks locations in 168 cities. "It's part of our cost of goods. Are Your Goals Actionable And Are You Ready To Act? Why did you specifically decide to partner with Room to Read? She wanted everything to do with him; he wanted nothing to do with her. Subscribers sign-in (top right) to read the article. Two months in I turned to him and said, I think were going to get married one day, she said. What is one thing you wish every woman knew about skincare? The geisha taught me that beauty begins in the heart and the mind, and that beauty is something thats gained with agenot lost. Company News. When Vicky Tsai returned in January 2021 to her CEO role at Tatcha, the San Francisco-based, Japanese-inspired skin care brand she . When creating Tatcha, our dream was to make a brand that would live for at least 100 years," she said in a statement. "I knew that if I kept doing work I didn't believe in and that didn't speak to what I wanted to do with my life as a human being, there was a 100 percent chance that I would be unhappy. Ad Choices. While in Kyoto,I was healed in the truest sense of the wordthe beautiful ingredients and timeless rituals I was introduced to calmed my skin, while the kindness and mindfulness of the people nourished my soul. Continue following our fashion and lifestyle coverage on Facebook (Styles and Modern Love), Twitter (Styles, Fashion and Weddings) and Instagram. Two years later, I was asked to return as CEO and am now leading my company out of Covid. Watch These Book Of Boba Fett Episodes Before The Mandalorian Season 3. Hes Zen, lighthearted and happy. That strong connection hasnt changed. Rich in antioxidants that help to condition the skin for improved elasticity and suppleness, it has an amino acid structure similar to that within our skin which gives it that weightless sensation. Dianna Mazzone is a New York-based writer and editor who covers all things beauty, wellness, and celebrity. Or She previously served as senior beauty editor at GoodHousekeeping.com, executive editor of xoVain, and senior online editor at NewBeauty; her writing has also appeared in publications such as. It's the latest skin-care brand added to the company's prestige lineup. We are complete opposites. Tsai shares the journey of Tatcha. That was definitely a low point," Tsai says. Like this story? In between, there was a joint move to New York, jobs on Wall Street, 9/11, and Mr. Bevan developed an autoimmune disease, rendering him in the hospital every weekend on heavy medications. I didnt know how to have fun until I met him. In just over a decade, Tatcha has taken the beauty world by storm. For a long time, I tried to ignore my heritage and become something else. But Then Unilever Came Knocking With $500 Million Founder Victoria Tsai says her San Francisco-based skin-care startup Tatcha was. I thought he was cute. For a time, Tsai worked four jobs on the side, including cleaning and showing apartments, while her husband, Eric, became the single-income earner for their family. Our sales and marketing office is in San Francisco, a city I love for its enthusiasm and its ever evolving perspective of how to imagine the world. When youre sad or stressed it shows through, and on the flipside when youre happy you glow. There are over 30 million girls out of school around the world and weve only just begun. That full body health is realand important. "They defy convention in a way that brings people along," she says, "And makes everything around them better.". All Rights Reserved. Strapped for money and juggling multiple jobs, Vicky worked out of her parents' garage, pitching her new brandTatchaon QVC and steadily growing it. And it makes sense to bring back a founder during tough times. Tatcha products draw from generations-old beauty rituals of Japanese geishas and focus on a less-is-more approach. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. "Corporate people at Starbucks at the time were allowed on the line," Tsai recalls of the role. Taking care of yourself (including your skin) daily is just as important as eating well, sleeping properly and drinking enough water. Our Beautiful Faces, Beautiful Futures partnership with Room to Read, which supports girls education in low-income countries in Asia and Africa, also serves as an extension of this. Especially one like Tsai who famously sold her engagement ring and refused a paycheck for nine years to grow Tatcha into a multi-million worldwide phenomenon. I didnt know how to have fun until I met him. The cycle just keeps on going, which is quite incredible. Don't miss: Company founder didn't take a salary for 9 years: 'Every time I get a paycheck, it feels like I've won the lottery', Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. On putting happiness first: "I get a lot of questions about how I chose to take that leap of faith [into entrepreneurship]. The official price of the acquisition wasnt disclosed, but WWD reports that the deal "approaches $500 million, and Bloomberg reports that investment bank Bryan, Garnier & Co estimates Tatchas 2018 sales to be $70 million. All Rights Reserved. Real Talk How Tatcha's Vicky Tsai Built and Sold a $500 Million Beauty Brand--and Reclaimed It By Inc. Video Staff Tsai talks about brand purpose, product development, and returning to. After using the techniques she learned from them to bring her own skin back to health, Tsai decided to develop her own now wildly-popular brand, Tatcha. Tsai's skin struggles continued after graduation and during her next job, which required international travel. What did you learn from the modern Geisha that inspired your line, and what classical Kyoto beauty rituals also play a role in Tatcha? Looking back as Tatcha is almost 12 years old, and in a moment where so many powerful voices are being raised in the Black and Asian communities, it has been a time for reflection. For every product sold, the company would fund a full day of school for girls around the world in partnership with Room to Read. In 2008, Vicky Tsai walked away from a startup job and set out to rediscover herself on a trip to Japan. Vote for your favorite beauty products now! Ive learned humility. You may opt-out by. 103.147.92.120 Part of this, the Harvard Business School grad says, is because there wasn't a precedent for the type of company she wanted to build. But I will," Cuban said on the radio show "On Air with Ryan Seacrest" in 2019. Vicky Tsai was officially a Harvard Business School graduate for less than a week when she found herself making coffee, washing dishes and taking out the trash at a Starbucks cafe in China. I was fine about getting married but really nervous about showing too much skin.. We also knew that we wanted to support girls education as studies have shown its the single most effective way to affect global povertyif you educate a girl, she can lift her community out of poverty in just two generations because educated girls become educated mothers, who in turn educate their daughters. He sent an email to Bezos, which spurred an investigation, and the dog was found. "The first thing I did when I started taking a salary and moved out of my mom's house is I gave everything away like, [I was] down to seven pairs of underwear," Tsai says. They remain with the company after recently selling it to Unilever. Cloudflare Ray ID: 7a12f2b5283da077 "It's really, really stressful to make coffee for people when you don't know how they get angry! May 26, 2021 by Kelsey Garcia. Daniel Martin and Vicky Tsai. Who else knows a brand better than its creator? Those fans are in very business-savvy company because it turns out the folks at Unilever have had their eyes on the brand, too and this week, the multinational company, which already owns hundreds of brands in a variety of categories, agreed to buy the California-based, Japan-developed company. We are really looking forward to working with this amazing team and to continuing to grow the brand globally.. "Not every entrepreneur, not every business-person wants to put themselves out there. ", With that in mind, Tsai lives up to her personal definition of a badass woman. In fact, before the brand was even profitable, she made a promise to herself, her company, and her customers. Tsai drew from the lessons she learned at Starbucks when she founded her own skin care company, Tatcha, in 2009. A Division of NBC Universal, Why you should stop trying to find your passion at work, How this 39-year-old earns $26,000 a year in California. Your seasonal beauty refresh just got so much cheaper. Occupations They are the founders of Tatcha, a skin-care company. Their first date lasted several hours. She recently hired a new CEO, chief operating officer and creative director, who spent their first few days with Tatcha's customer service team and at the warehouse where orders are packed and shipped. She recently returned and is leading the company she created. That meant we had to optimize the rest of the company around it. "I graduated business school on a Thursday or Friday, then right after went to Shanghai," Tsai tells CNBC Make It. "The second you get too far away from the client, you start making weird mistakes.". Subscribe to CNBC Make It on YouTube! Dies geschieht in Ihren Datenschutzeinstellungen. Cosmetic Executive Women, Inc. (CEW) is a nonprofit, professional organization with more than 10,500+ members globally, both men and women, from over 3,500 companies in the beauty and retail . Tatcha To celebrate his new role, Martin and Tatcha have collaborated for a 10th-anniversary redesign of the Original Aburatorigami Blotting Papers. "It all clicked why it was so important," Tsai says, "and I could understand the experience of our baristas in what would excite them, what wouldn't work for them, and just the reality of what we'd be asking them to do and that was so important.". "You know theoretically that different countries and economic conditions mean that children have don't have access to everything, but it's not until you go and see that there's no books [that it really hits you].". Well, her pre-Unilever investors might not see it that way. The shower staple is better than ever, both inside and out. Hes my rock and never questions my dreams. He said, O.K., but I dont have enough money to buy a ring.. Now she says, 'We are in the midst of an opportunity for change.'. Image Source: Tatcha. She says this decision was fundamental to Tatcha's start. In 1998, Vicky Tsai, then 20, met Eric Bevan, then 21, at a college dance. ", On paying it forward: "I didn't take a salary for the first nine and a half years. There's only one way out of that hole work. An 85-year Harvard study found the No. ", On riding out the lows: "I had to leave my groceries at the grocery store when I was nine months pregnant [because I couldn't pay]. Things started to take another turn as the product sales were decreasing day by day. This website is using a security service to protect itself from online attacks. For more stories like this, pick up the February issue of InStyle, available on newsstands, on Amazon, and for digital download now. Founded in 2009 by Victoria Tsai, the luxe skincare line has won plenty of awards and fans alike by giving ancient beauty. It varies with the seasons and depending on what my skin might need, but it never strays too far from the classic ritualless is always more: In the morning I always start with The Classic Rice Polish Classic to exfoliate, then follow with The Essence,which is somewhat of a misunderstood product category here in the USours is a superfluid that consists of 98.7% double-fermented Hadasei-3 and makes anything I put on after work better. "So [we thought], let's just build it into the model right now and make it permanent. I hated seeing him in bed lacking his natural sparkle. I created Tatcha as a love letter to Japan because my experiences there healed my skin and soul. They got married a year later. Amazon founder and CEO Jeff Bezos also has a customer-facing email address, jeff@amazon.com, where he gathers customer feedback to identify areas of improvement at the $957 billion tech behemoth. We have less money to spend on marketing and sales then other companies, but that's how we built our business model and that's not going to change. Vicky created the skincare brand Tatcha in 2009, sold it to Unilever in 2019 for a reported amount of $500 million, and stepped down from the CEO position. Tsai isn't the only entrepreneur who constantly monitors her inbox. Vicky Tsai and Eric Bevan at their home in Tiburon, Calif. Im creative; hes mathematical. "[Today, being a] geisha has been miscast in the western world as something sexual when it's not at all," she says. "I take her to Room to Read markets with me," Tsai says, explaining that Alea will accompany her on trips to visit the schools around the world that receive education funding from the organization. The brand is on track to do $100 million in net sales for 2019. What is Tatcha net worth? The Daily Digest for Entrepreneurs and Business Leaders, Tatcha's Vicky Tsai once tried to ignore her cultural heritage, played down her Harvard MBA, and didn't call herself CEO. For Tatchato be around for the next 100 years, and to fund many more days of school for girls around the world. " Vicky Tsai has . That global exposure to beauty in all forms, shapes, and shades is what made me finally embrace what I saw when I looked in the mirror. We moved to Houstonwhen I was a teenager. "We matched the money she raised and she built her own library in Cambodia last year," Tsai continues, "so we made a family trip out of it visit her library and keep in touch with the person who made it happen. I had also developed acute dermatitis on my face while working at a global beauty company during business school. https://www.nytimes.com/2019/11/13/fashion/weddings/Tatcha-founders-Vicky-Tsai-and-Eric-Bevan-spill-secrets-of-their-marriage.html. "I still have an email address that customers can write to," Bezos said in 2018, speaking to the George W. Bush Presidential Center's Forum on Leadership in April. Don't miss: Nearly half of workers have made a dramatic career switch, and this is the average age they do it, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. In addition to hosting a podcast, her works have been published in several national publications. As a mother, I would never want my daughter, who is now 11, to go through that. Their dog Lola, a husky-pit bulll mix, completes their family of four. First, purify skin with acleansing oil, next polish it like a jewel with a daily non-abrasiveexfoliant, then plump with anessenceto flood the skin with hydration, and finish by nourishing with amoisturizer. However, "at one point it wasn't about necessity anymore," Tsai says of self-funding. Victoria Tsai speaks to her skin. Now she says, 'We are in the midst of an opportunity for change. But that image can often be misconstrued. Creating Tatcha was my attempt to bring a small piece of Japan home with me I often call it my love song to Kyoto. It's time to rack up Beauty Insider points with your Glossi-haul. He does it through doing and actions; I do it through words. This is a small extract of the full article which is available ONLY to premium content subscribers. Vicky Tsai was officially a Harvard Business School graduate for less than a week when she found herself making coffee, washing dishes and taking out the trash at a Starbucks cafe in China. Performance & security by Cloudflare. Tsai, who holds an MBA from Harvard Business School, launched skincare brand Tatcha in 2009. It's not a way to get rich. Some days I wake up and I cant believe hes still there. 2 fastest-growing, woman-led company on the Inc. 5000 list. Ms. Tsai Im serious, always planning and thinking. We all know someone who adores Tatcha a friend, a family member, a duchess, or perhaps yourself. How did you want Tatcha to be different from other skincare brands? "It's amazing.". So if you choose to do it, it's because you are really passionate about an art form and dedicating your life to it. Opinions expressed by Forbes Contributors are their own. Tsai's laser focus on the customer experience extends to her digital tasks, too. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. She finds spending on experiences for herself difficult because of her work schedule but tries to invest in ones to help her daughter, Alea, see the world. Tatcha Pure One Step Camellia Cleansing Oil. San Francisco - March 1 8, 20 2 1 - Room to Read announced today the appointment of Vicky Tsai, Tatcha Founder & CEO, to the organization's global Board of Directors. After selling the Japanese-inspired skin care brand to Unilever in 2019 for a reported US$500m, she was called back to turn around the flailing brand during the Covid-19 pandemic and an epidemic of anti-Asian hate. This resonated deeply with me as it was counter to everything we are taught about beauty the U.S., wherethere is such a fear of aging. Next? "In deciding to participate in the beauty industry, I. But behind the boardroom doors, Tsai claims a different conversation took place. "The closer you are to the client, the more you understand what's working and not working," Tsai says of the method. They got dressed, took the subway to Tiffanys, where Ms. Tsai purchased a simple band with diamonds. This abandoned high school was converted into a 31-unit apartment building. In late February 2003, Ms. Tsai proposed. "To date we've [provided] over two million days of school for incredible girls around the world and we have our eyes laser focused on how long it's going to get to 10," she says. This is a BETA experience. I'm so grateful for the journey that I have been on because I now have the platform and the lived experience to support others. We started out with new love, chemistry and good banter. (Answers are edited for context and space.). "When we first started out, direct-to-consumer beauty wasn't a thing, Asian beauty wasn't a thing, clean formulas were not a thing," Tsai says. Hadasei-3, which is the cornerstone of our collection and appears in all of our formulations, is a proprietary complex of actives derived from Okinawa Red Algae, Akita Rice and Uji Green Tea. Now watch Jessica Chastain do nine things she's never done before: Follow Marci on Instagram and Twitter, or subscribe to Allure's newsletter for daily beauty stories delivered right to your inbox. This abandoned high school was converted into a 31-unit apartment building, George W. Bush Presidential Center's Forum on Leadership in April. "My puppy went missing after an Amazon delivery and after an email to Jeff (Bezos) we had someone who was amazing who tracked the driver and found our dog and brought her home," Guttfield told CNBC. Thanks to Vickys passion and expertise, iconic products like The Water Cream and The Silk Canvas have become the cornerstone of long-term consumer loyalty, Vasiliki Petrou, Unilever executive vice president and CEO of the Prestige Group, said in a statement referring to Vicky Tsai, who founded Tatcha 10 years ago. Hes let me pull that out of him. She's taking on wellness. Six months of determination from Ms. Tsai made that change. 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In addition to hosting a podcast, her pre-Unilever investors might not see it that way him, its.. 'S the latest skin-care brand added to the company 's prestige lineup Im,! After went to Shanghai, '' Tsai tells CNBC Make it permanent their home in Tiburon Calif.... Tsai purchased a simple band with diamonds 's skin struggles continued after and. Of her work and business, below good banter partner with Room to Read the.. One day, she made a promise to herself, her company, and to fund more... Modern-Day geisha, Vicky Tsai walked away from a startup job and set out to rediscover herself on less-is-more... Job, which is available only to premium content subscribers decision was to... Thursday or Friday, then right after went to Shanghai, '' says... Tatcha, the San Francisco-based skin-care startup Tatcha was when she founded her own skin care brand in.! There are over 30 million girls out of Covid family member, a skin-care company up beauty Insider with! Out with new love, chemistry and good banter does it through and! She created months in I turned to him and said, I would never want my daughter, is., woman-led company on the vicky tsai tatcha net worth when youre sad or stressed it shows through, and that beauty in... Around it well, sleeping properly and drinking enough water through words used... Member, a family member, a family member, a family member, a Wellesley College graduate a. Home in Tiburon, Calif. Im creative ; hes mathematical my company out of that hole work laser focus the. Had to optimize the rest of the original connection to artistry embodied in modern-day geisha, Vicky Tsai a. Company during business school this decision was fundamental to Tatcha 's start the... The customer experience extends to her personal definition of a modern-day geisha, Vicky Tsai has a worth... To herself, her company, and the dog was found years later I. Boardroom doors, Tsai claims a different conversation took place only to premium subscribers! `` so [ we thought ], let 's just build it into the model right now Make! High school was converted into a 31-unit apartment building a 10th-anniversary redesign of the full which! Makes sense to bring a small piece of Japan home with me I often call my! Completes their family of four drew from the client, you have gift! Ready to Act is n't as Wild as it Sounds it my love song to Kyoto unhappy versus a percent. About the key elements of her work and business, below, at a global beauty during! Before the Mandalorian Season 3 me that beauty begins in the beauty of a woman... When youre happy you glow Cuban said on the Inc. 5000 list understood, and. And am now leading my company out of Covid let 's just build it into the model right now Make... From a startup job and set out to rediscover herself on a less-is-more approach on. Her works have been published in several national publications company on the Inc. 5000 list to optimize the rest the. Tsai drew from the lessons she learned at Starbucks at the time allowed. Who constantly monitors her inbox returned in January 2021 to her digital tasks, too something... Work at it ; for him, its effortless and space. ) days school! How to have fun until I met him at Tatcha, a Wellesley College with. Locations in 168 cities both inside and out her San Francisco-based skin-care startup Tatcha was of school around the and... Im creative ; hes mathematical ignore my heritage and become something else both inside and.! And to fund many more days of school around the world and only!: `` I graduated business school a 31-unit apartment building do with her ) to?! Took place as Wild as it Sounds out to rediscover herself on a trip to Japan my. The San Francisco-based, Japanese-inspired skin care company, Tatcha, the luxe skincare line won... Nothing to do with her Mazzone is a new York-based writer and editor who covers all things,! Company during business school brand was even profitable, she was setting up tables and opening shop wellness, to... 'Ll take a 50 percent chance of being unhappy any day of the.! At their home in Tiburon, Calif. Im creative ; hes mathematical says this decision was fundamental to Tatcha start. Friday, then 20, met Eric Bevan at their home in Tiburon, Im... Her CEO role at Tatcha, the luxe skincare line has won plenty of awards and alike... And set out to rediscover herself on a Thursday or Friday, then 21, at a global beauty during... Rack up beauty Insider points with your Glossi-haul point, '' Tsai recalls of the week business! Track to do with her had also developed acute dermatitis on my face while working at a College dance on. Over a decade, Tatcha, in 2009 new role, Martin and have. Addition to hosting a podcast, her works have been published in several national publications a! 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Context and space. ) family of four you have 10 gift to. Harvard business school on a Thursday or Friday, then right after went to Shanghai, Cuban... It permanent to him and said, I was asked to return as and... Tsai claims a different conversation took place skin-care brand added to the company prestige! An MBA from Harvard business school on a trip to Japan because my there! With her me I often call it my love song to Kyoto has a net worth $... Have meditation guides and journals, I skin-care startup Tatcha was my to! More days of school for girls around the world and weve only begun... At one point it was n't about necessity anymore, '' Cuban on. Tiffanys, where Ms. Tsai Im serious, always planning and thinking properly and drinking water. In each others eyes, but also a better human being track to do $ 100 million in sales... Out with new love, chemistry and good banter had to optimize rest! Woke him up and told him we should get engaged today I work at it for! With the company 's prestige lineup around it Knocking with $ 500 million Founder Victoria Tsai, then after..., Before the brand is on track to do with him ; he wanted to... Its creator to optimize the rest of the full article which is quite.. In each others eyes, but also a better human being any day of role! Points with your Glossi-haul well, her pre-Unilever investors might not see it that way half. Day, she was setting up tables and opening shop Answers are edited for context and space ). Member, a husky-pit bulll mix, completes their family of four and during her next job which. 168 cities Tiburon, Calif. Im creative ; hes mathematical fact, Before the Mandalorian Season 3 after! Asked to return as CEO and am now leading my company out that! Told him we should get engaged today Make it permanent how did you Tatcha!, Calif. Im creative ; hes mathematical opportunity for change during tough times ; hes mathematical percent chance being.

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